Comparing Quantities Test

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Comparing Quantities Test - 16

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Weekly Quiz Competition

Question 1
1 / -0

A shopkeeper sells some articles at the profit of $$25$$% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary?
I. Sale price of the article
II. Number of articles sold

A
Only I is necessary

B
Only II is necessary

C
Either I or II is necessary

D
Both I and II are necessary

E
None of these

Solution

$$Gain = 25$$% of C.P.
In order to find gain, we must know the sale price of each article and the number of articles sold.
Correct answer is (D).
Question 2
1 / -0

What will you call the extra amount of money you got as profit, after investing a certain amount?

A
Interest

B
Principle

C
Amount

D
Rate

Solution

The extra mount of money got as profit after investing a certain amount of money is called as $$Interest.$$
Interest is the cost of using somebody else’s money. When you borrow money, you pay interest. When you lend money, you earn interest.
There are several different ways to calculate interest, and some methods are more beneficial for lenders. The decision to pay interest depends on what you get in return, and the decision to earn interest depends on the alternative options available for investing your money.
Question 3
1 / -0

A man buys pencils at the rate of $$6$$ for $$Rs. \ 5\ $$and sells them at $$5$$ for $$Rs. \ 6$$. What is his profit $$\%$$?

A
$$30$$

B
$$34$$

C
$$40$$

D
$$44$$

Solution

CP of 6 pencils = Rs 5
CP of 1 pencil = Rs $$\dfrac{5}{6}$$
CP of 5 pencils =Rs $$\dfrac{25}{6}$$
SP of 5 pencils = Rs $$6$$
Profit $$=6-\dfrac{25}{6}-6=\dfrac{11}{6} $$
Profit % $$=\dfrac{11}{6} \times \dfrac{6}{25} \times 100 =44$$%
Question 4
1 / -0

The principal is Rs. $$1000$$, so if you pay off Rs. $$300$$, the remaining Rs. $$700$$ left to repay is also called the

A
Interest

B
Rate

C
Principle

D
Amount

Solution

If Rs. $$300$$ of Rs. $$1000$$ principal is paid off, the remaining Rs. $$700$$ left to repay is the new Principal.
It is also called the principal.
Question 5
1 / -0

Determine the principal when time $$= 2$$ years, interest $$=$$ Rs.$$ 1000$$; rate $$= 2\%$$ p.a.

A
$$10000$$

B
$$20000$$

C
$$15000$$

D
$$25000$$

Solution

Here, time $$=2$$ years, interest $$=$$ Rs. $$1000$$, rate $$=2\%$$ p.a.
We know $$S.I.=\dfrac{P\times R\times T}{100}$$
$$\Rightarrow$$ $$1000=\dfrac{P\times 2\times 2}{100}$$
$$\Rightarrow$$ $$P=\dfrac{1000\times 100}{4}$$
$$\Rightarrow$$ $$P=$$ Rs. $$25,000$$
Question 6
1 / -0

Calculate the principal when time $$= 4$$ years, interest $$=$$ Rs. $$4000$$; rate = $$10$$% p.a

A
$$5,000$$

B
$$10,000$$

C
$$15,000$$

D
$$20,000$$

Solution

$$\Rightarrow$$ Here $$I=Rs.4000,\,R=10\%,\,T=4\,years$$

$$\Rightarrow$$ $$P=\dfrac{I\times 100}{R\times T}$$

$$\Rightarrow$$ $$P=\dfrac{4000\times 100}{10\times 4}$$

$$\Rightarrow$$ $$P=Rs.10,000$$
Question 7
1 / -0

Find rate, when principal = Rs. $$30,000$$; interest = Rs. $$900$$; time = $$3$$ years.

A
$$1$$%

B
$$2$$%

C
$$4$$%

D
$$5$$%

Solution

using simple interest formula

Interest $$=$$ Principal $$\times$$ rate $$\times$$ time

Given:
Principal $$=$$ Rs. $$30000$$
Rate $$= r$$
Time $$= 3$$ years
Interest $$=$$ Rs. $$900$$
By substituting the given values in the formula,

$$\Rightarrow 900 = 30000 \times r \times 3$$

$$\Rightarrow r = \dfrac{900}{90000}$$

$$\therefore r = 0.01$$ or $$1\%$$
Question 8
1 / -0

Calculate the principal when time $$= 10$$ years, interest $$=$$ Rs. $$4000$$; rate = $$5\%$$ p.a.

A
$$5000$$

B
$$6000$$

C
$$7000$$

D
$$8000$$

Solution

Here, time $$=10$$ years, interest $$=$$ Rs. $$4000$$, rate $$=5\%$$ p.a.
We know $$S.I.=\dfrac{P\times R\times T}{100}$$
$$\Rightarrow$$ $$4000=\dfrac{P\times 5\times 10}{100}$$
$$\Rightarrow$$ $$P=\dfrac{4000\times 100}{50}=$$ Rs. $$8000$$
$$\Rightarrow$$ $$\text{Principal}=$$ Rs. $$8000.$$
Question 9
1 / -0

What percentage is equivalent to $$\dfrac {5}{8}$$ ?

A
$$62.5\%$$

B
$$60.5\%$$

C
$$625\%$$

D
$$60\%$$

Solution

We have to find percentage of $$\dfrac{5}{8}$$
We know $$\text{Percentage} = \dfrac{5}{8}\times 100$$
Therefore, $$\text{Percentage} = \dfrac{500}{8}=62.5\%$$
Question 10
1 / -0

Identify which amount is the original amount of money, the amount before any interest is applied?

A
Interest

B
Rate

C
Principle

D
Amount

Solution

$$\text{Principal}$$ amount is the original amount of money, the amount before any interest is applied.
Principal is a term that has several financial meanings. The most commonly used refers to the original sum of money borrowed in a loan, or put into an investment. Similar to the former, it can also refer to the face value of a bond.
The amount borrowed, or the part of the amount borrowed which remains unpaid (excluding interest). here also called principal amount.

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Comparing Quantities Test - 16

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Comparing Quantities Test - 16

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SHARING IS CARING

Question 1

Only I is necessary

Only II is necessary

Either I or II is necessary

Both I and II are necessary

None of these

Solution

Question 2

Interest

Principle

Amount

Rate

Solution

Question 3

$$30$$

$$34$$

$$40$$

$$44$$

Solution

Question 4

Interest

Rate

Principle

Amount

Solution

Question 5

$$10000$$

$$20000$$

$$15000$$

$$25000$$

Solution

Question 6

$$5,000$$

$$10,000$$

$$15,000$$

$$20,000$$

Solution

Question 7

$$1$$%

$$2$$%

$$4$$%

$$5$$%

Solution

Question 8

$$5000$$

$$6000$$

$$7000$$

$$8000$$

Solution

Question 9

$$62.5\%$$

$$60.5\%$$

$$625\%$$

$$60\%$$

Solution

Question 10

Interest

Rate

Principle

Amount

Solution

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